After an accident, victims often find themselves in severe pain because of their injuries. In some cases, they may deal with chronic pain for the rest of their life. Thankfully, the law allows victims to be compensated for the physical pain they endure because of their injuries.
Additionally, victims may suffer severe emotional effects after an accident. These effects can also be included as “pain and suffering” damages. The question often arises of just how much these damages are worth. Pain and suffering damages are very subjective, so putting a specific financial value on them can be difficult.
In Texas and other states, several different methods are used to calculate the value of pain and suffering damages. Below, there are more details about how these subjective damages are calculated.
If you have been injured because of someone else’s negligence, you may be entitled to recover both economic and non-economic damages. This is true after car accidents, pedestrian accidents, slip and fall accidents, and nearly any other type of accident. Economic damages are associated with the financial losses resulting from an accident, such as medical bills and lost wages.
It is quite easy to put a financial value on economic damages because some bills or receipts show a specific dollar amount. On the other hand, non-economic damages are more subjective and more difficult to calculate. Common examples of these damages include:
Non-economic damages can often be worth much more than the economic damages associated with the case. Keep reading below to learn more about how these damages are calculated.
While there is no specific formula for calculating these damages, two common methods are frequently used. Those methods are:
The multiplier method is the most common method used to calculate pain and suffering damages. Using this method, a multiplier is assigned to your case based on the severity of your injuries. Multipliers in personal injury cases usually range from 1.5 to 5, and cases with more severe injuries will have higher multipliers.
Once the multiplier is determined, the economic damages are then multiplied by that multiplier to get the value of the pain and suffering damages. For instance, consider a case involving moderate injuries with a multiplier of 3. If you suffered $10,000 in economic damages, your pain and suffering damages may be worth around $30,000.
The per diem method is not used as frequently but is still used in some instances. Under this method, the damages are not calculated until the victim has reached maximum medical improvement (MMI). This means that a medical professional has deemed that the victim has physically recovered as much as possible from their injuries.
At that time, a per diem amount for pain and suffering will be assigned. This amount is then multiplied by the number of days it took the victim to reach MMI. For instance, suppose a victim’s pain and suffering damages are valued at $200 per day in a specific case. If it took the victim 100 days to reach MMI, then their pain & suffering damages may be worth $20,000.
Whether using the multiplier or per diem method, several factors affect the value of pain and suffering damages. The more severe the injuries, the more your pain and suffering damages are likely to be worth. Some of the factors that affect the value of these damages include:
These factors and more can be used when negotiating a settlement for your case. If the case goes to trial, these are some of the factors a jury would consider when determining the amount of damages to award.
In Texas, there is no cap on pain and suffering damages for most personal injury claims. However, there are a couple of exceptions. State law does place a cap on non-economic damages in medical malpractice cases and claims against government entities. In both of those situations, the cap applies to total non-economic damages and not just the pain and suffering portion.
If you have been hurt in an accident, putting a proper value on your pain and suffering damages is crucial to getting all the compensation you deserve. The team at McMinn Personal Injury Lawyers can help you ensure the insurance company does not try to lowball your claim. Contact us today to schedule a free consultation with a Texas personal injury lawyer who can help you with your claim from start to finish.
